Cal. Code Regs. tit. 2 § 22507

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 22507 - Form of Decision

(a) If the application is denied, the notice to the claimant and judgment debtor shall include the following:

Claimant's application has been denied. If the claimant wishes to pursue the application in court, the claimant must file a petition in a California superior court not later than six months after receipt of this notice, pursuant to California Coporations Code Section 2287. If the underlying judgment is a California state court judgment, a petition shall be filed in the court in which the underlying judgment was entered. If the underlying judgment is a federal court judgment, a petition shall be filed in (1) the superior court of any county within California that would have been a proper venue if the underlying lawsuit had been filed in a California state court, or (2) the Superior Court of the County of Sacramento.

(b) If the final decision of the Secretary of State is to make a payment to the claimant from the Victims of Corporate Fraud Compensation Fund, the following notice shall be given to the judgment debtor along with a copy of the decision of the Secretary of State: The decision of the Secretary of State on the application of (name of claimant) is to pay $__________ (amount of payment) from the Victims of Corporate Fraud Compensation Fund. A copy of that decision is enclosed.

Pursuant to Corporations Code section 2293.1, your corporation must pay the amount of the payment plus interest at the prevailing legal rate to the Victims of Corporate Fraud Compensation Fund within 30 calendar days of this notice If your corporation does not pay the assessed amount, your corporation will be suspended and will not be eligible for reinstatement until you have reimbursed the Victims of Corporate Fraud Compensation Fund for this payment plus interest at the prevailing legal rate. Payment must be sent to the Office of the Secretary of State, Business Programs Division, Victims of Corporate Fraud Compensation Fund, P.O. Box 15659, Sacramento, California 95852.

Cal. Code Regs. Tit. 2, § 22507

1. New section filed 3-9-2004; operative 3-9-2004 pursuant to Government Code section 11343.4 (Register 2004, No. 11).
2. Repealer of former section 22507 and renumbering of former section 22509 to section 22507, including amendment of section and NOTE, filed 1-2-2013; operative 1-2-2013 pursuant to Government Code section 11343.4 (Register 2013, No. 1).

Note: Authority cited: Section 2280, Corporations Code. Reference: Sections 2284, 2285, 2286, 2287, 2288 and 2293.1, Corporations Code.

1. New section filed 3-9-2004; operative 3-9-2004 pursuant to Government Code section 11343.4 (Register 2004, No. 11).
2. Repealer of former section 22507 and renumbering of former section 22509 to section 22507, including amendment of section and Note, filed 1-2-2013; operative 1-2-2013 pursuant to Government Code section 11343.4 (Register 2013, No. 1).